Vanguard Group Inc. Has $1.22 Billion Stock Position in Astera Labs, Inc. (NASDAQ:ALAB)

Vanguard Group Inc. boosted its position in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 354.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 9,211,630 shares of the company's stock after buying an additional 7,186,582 shares during the quarter. Vanguard Group Inc. owned approximately 5.81% of Astera Labs worth $1,220,080,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of ALAB. LPL Financial LLC lifted its stake in shares of Astera Labs by 94.0% during the fourth quarter. LPL Financial LLC now owns 54,402 shares of the company's stock valued at $7,205,000 after acquiring an additional 26,364 shares during the period. KLP Kapitalforvaltning AS bought a new stake in Astera Labs during the 4th quarter worth about $1,020,000. AXQ Capital LP acquired a new position in Astera Labs during the 4th quarter valued at about $917,000. Vestor Capital LLC bought a new position in shares of Astera Labs in the 4th quarter valued at about $13,538,000. Finally, Virtu Financial LLC acquired a new stake in shares of Astera Labs during the 4th quarter worth approximately $4,473,000. 60.47% of the stock is currently owned by institutional investors.

Astera Labs Stock Performance

Astera Labs stock traded up $2.34 during midday trading on Tuesday, reaching $62.01. The stock had a trading volume of 3,460,064 shares, compared to its average volume of 3,663,713. The stock has a market capitalization of $10.06 billion and a P/E ratio of -35.84. The firm's fifty day simple moving average is $82.28 and its 200-day simple moving average is $90.80. Astera Labs, Inc. has a 1-year low of $36.22 and a 1-year high of $147.39.

Remove Ads

Astera Labs (NASDAQ:ALAB - Get Free Report) last posted its quarterly earnings data on Monday, February 10th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.26 by ($0.16). Astera Labs had a negative net margin of 21.05% and a negative return on equity of 10.40%. On average, sell-side analysts anticipate that Astera Labs, Inc. will post 0.34 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Astera Labs news, CFO Michael Truett Tate sold 125,800 shares of the business's stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $82.53, for a total transaction of $10,382,274.00. Following the transaction, the chief financial officer now owns 244,242 shares of the company's stock, valued at $20,157,292.26. The trade was a 34.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Jitendra Mohan sold 350,680 shares of the company's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $89.51, for a total value of $31,389,366.80. Following the sale, the chief executive officer now owns 2,353,655 shares in the company, valued at approximately $210,675,659.05. This represents a 12.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 570,990 shares of company stock valued at $50,242,702 in the last three months.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on ALAB shares. Barclays increased their price objective on shares of Astera Labs from $87.00 to $135.00 and gave the company an "overweight" rating in a report on Friday, January 17th. Raymond James initiated coverage on Astera Labs in a report on Friday, March 14th. They set an "outperform" rating and a $82.00 target price on the stock. Northland Capmk raised shares of Astera Labs from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, January 28th. Morgan Stanley lowered their price objective on shares of Astera Labs from $142.00 to $114.00 and set an "equal weight" rating for the company in a research report on Tuesday, January 28th. Finally, Craig Hallum lifted their target price on Astera Labs from $105.00 to $125.00 and gave the stock a "buy" rating in a report on Tuesday, February 11th. One research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $112.77.

Astera Labs Company Profile

Astera Labs, Inc designs, manufactures, and sells semiconductor-based connectivity solutions for cloud and AI infrastructure. Its Intelligent Connectivity Platform is comprised of a portfolio of data, network, and memory connectivity products, which are built on a unifying software-defined architecture that enables customers to deploy and operate high performance cloud and AI infrastructure at scale.